Page 7 - Adani Ports

World's largest sovereign wealth fund excludes Adani Ports & SEZ

This comes at a time when the group is in the middle of controversies regarding alleged malpractices in corporate governance last year

Norway excludes Adani Ports from govt pension fund over ethical concerns

US defence contractor L3Harris Technologies and China's Weichai Power have also been excluded

RINL seeks Andhra's intervention for supply of coal from Gangavaram Port

Andhra Pradesh-based steel maker RINL has sought the state government's intervention to ensure immediate supply of coking coal stuck at Adani Gangavaram Port. The coking coal supply has been stuck since last month due to agitation of workers at AGPL (Adani Gangavaram Port Limited), which is operated by Adani group company Adani Ports and SEZ (APSEZ). In a letter to Visakhapatnam district collector, RINL CMD Atul Bhatt said the operation of the firm is in a highly critical position due to lack of the most essential raw material coking coal which has been stuck at Gangaravam Port since April 12 this year due to agitation of AGPL workers. "We request district administration and police to provide necessary security so that the transportation of critical materials i.e. coal is shifted by RINL peacefully through its own loaders and dumpers," Bhatt said. A query sent to AGPL did not elicit an immediate response. According to Bhatt, more than 1,000 employees of RINL and trade union leader

In discussion with various parties: Adani Ports on investing in Philippines

Adani Ports issued a clarification on reports stating the company planned to launch a development project in Bataan, Philippines to expand its ports. Here's what they said

Adani Group stocks see little impact of Sebi notices on disclosure norms

Six group firms say they have received notices; legal experts say allegations don't seem to be very serious

Adani Ports Q4FY24 results: Net profit rises 76% to Rs 2,040 crore

Company expects cargo traffic to rise to 500 mmt in 2025

Adani Ports Q4 results: Net Profit jumps 76% to Rs 2,040 cr, revenue up 19%

Adani Ports Q4FY24 results: The board of Adani Ports and Special Economic Zone has recommended a dividend Rs 6 per equity share of Rs 2 each fully paid-up for the financial year 2023-24

Q4 FY24: Adani Ports, Coal India among 49 firms to post results today

Q4 FY24 results: Dabur, Federal Bank, Digicontent, Blue Star, Khemani Distributors, Aptech are expected to release their financial results too

APSEZ becomes India's 1st large-sized pvt infra developer to get AAA rating

Adani Ports and Special Economic Zone (APSEZ) on Wednesday said it has secured an AAA rating by CARE Ratings. With this development, the company has become the first large-sized private infrastructure developer to get this recognition, APSEZ said in a statement. "The rating is largely driven by APSEZ's robust integrated business model, strong industry position, consistent market share growth with healthy profitability, coupled with high liquidity and low leverage," the agency said. In FY24, APSEZ handled a cargo volume of 419.95 MMT, 24 per cent higher than the previous fiscal. APSEZ managing director Karan Adani said, We cherish the recognition to our financial discipline and commitment to deleveraging, diversified asset base as well as customer base and the highest profitability in this sector globally". APSEZ is a part of the globally diversified Adani Group.

APSEZ's Vizhinjam Port gets nod to run as India's first transshipment hub

In December 2015, Adani Ports and Special Economic Zone Limited (APSEZ) initiated the international transshipment project in Vizhinjam, Kerala

Gautam Adani's APSEZ cargo grows 24% at 420 million tonnes in FY24

At the start of FY24, the company's guidance for cargo volumes for the fiscal year was 370-390 mmt. 408 mmt of the company's cargo volumes came from its domestic ports

Adani Group shrugs off Hindenburg effect, back to rapid expansion spree

Adani group opened a USD 1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project. It started with the March 26 announcement of Adani Ports acquiring a 95 per cent stake in Gopalpur Port for Rs 3,350 crore, taking the number of seaports under its control to 15 - the highest with any private firm in the country. This was followed by Adani Enterprises Ltd - the group's flagship firm and business incubator - announcing on March 28

Adani Ports acquires 95% stake in Gopalpur Port in Rs 3,350 cr deal

Gopalpur Port handles primarily dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina

Adani's stake purchase in Gopalpur Port to provide debt relief to SP Group

Adani Ports agreed to purchase a 95% stake in the port for 13.5 billion rupees ($162 million) from Shapoorji and Orissa Stevedores Ltd

Adani Ports set to buy 95% of Odisha's Gopalpur Port for $162 million

Adani Ports will purchase a 56% stake in Gopalpur Port from real-estate conglomerate Shapoorji Pallonji Group (SP Group) and a 39% stake from Orissa Stevedores

Adani Ports, JSW, PSA looking to bag Rs 7,000 crore Tuticorin project

The envisioned project aims to elevate VO Chidambaranar Port into the inaugural transshipment hub on India's East Coast

Adani group plans to invest $14 bn across its portfolio companies in FY25

Adani group plans to invest more than Rs 1.2 lakh crore (about USD 14 billion) across its portfolio companies that range from ports to energy, airports, commodities, cement and media in fiscal year starting April 1, as it doubles down on its USD 100 billion investment guidance over the next 7-10 years to grow businesses, sources said. The projected capital expenditure or capex for 2024-25 (April 2024 to March 2025) fiscal is 40 per cent higher than what the portfolio is estimated to have incurred in FY24. According to analysts, the portfolio is estimated to have incurred a capex of around USD 10 billion in FY24 that ends on March 31. Sources said these investments will set the stage for exponential profit growth. The group had previously guided a USD 100 billion capex over the next 7-10 years. Most of this investment is going to go into group fast growing businesses -- renewable, green hydrogen and airports. As much as 70 per cent of the planned capex will go into its green portfo

Adani Group in discussions to offer $1.2 billion more bonds by June

The company is discussing the planned transaction with arrangers and bankers

Adani Ports Q3 result: Profits surge 68%, net profit reaches Rs 2,208 cr

Adani Ports and Special Economic Zone, India's largest private port operator, reported a nearly 68% surge in third-quarter profit on Thursday, helped by a jump in cargo volumes and higher tariffs

Adani Ports, Power: Charts suggest up to 23% upside for these Adani stocks

Over the last one year, select Adani Group stocks such as Adani Power, Adani Green, Adani Enterprises and Adani Ports have zoomed up to 300 per cent from their February 2023 lows.